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MONEY With Melissa Francis

News/Business. Melissa Francis with a breakdown of the day's top stories and their impact on the American Taxpayer. New.

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01:00:00

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San Francisco, CA, USA

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Comcast Cable

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Virtual Ch. 130 (Fox Business)

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mpeg2video

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ac3

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704

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480

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Us 10, California 10, U.n. 8, United States 5, New York City 4, Texas 4, Nfl 3, Melissa 3, Obama 3, U.s. 3, Sean Kennedy 2, Medicare 2, Melissa Francis 2, Italy 2, Afghanistan 2, Germany 2, Spain 2, New York 2, Greece 2, America 2,
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  FOX Business    MONEY With Melissa Francis    News/Business. Melissa Francis with a breakdown of the day's  
   top stories and their impact on the American Taxpayer. New.  

    September 25, 2012
    5:00 - 6:00pm EDT  

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it costs? $11,000. david: that is cheap. you heard that right, the machine lets you control temperature, pressure volume and time of each brew. coffeemaker also by the way has a built-in wi-fi. this is for the person who has everything or thinks they do. liz: have a great day. "money with melissa francis" is next. david: we'll see you tomorrow. melissa: i'm melissa francis. here is what is money tonight. president obama takes the stage at the u.n. general assembly vowing to stop iran from developing nuclear weapons at all costs. is it all talk and no walk? we'll get reaction from former new york city mayor rudely skrul. he is right next to me. at last gas prices going down. the drop from peak prices is far slower than many drivers would like. relief may not be around for long. we have details coming up. stop the madness. fury consumes the nfl.
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replacement refs blow a game-dieding -- game deciding call between the seahawks and packers. even when they say it's not it is always about money melissa: see i told you he was here. you saw him in the shot. take a look at today's market headlines. stocks stumble following comments from philadelphia fed president charles plosser. in an exclusive interview with fox business, he expressed skepticism about the latest stimulus and its ability to boost the economy. the dow closed down 101 points. good day for shares of research in motion. the blackberry maker said it gained two million subscribers. the investors liked the presentation of the upcoming blackberry 10 operating
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system. shares of tesla motors nosediving. the electric carmaker slashed its sales target for 2012 and warned it is falling behind of production goals for the model s sedan. it has a follow on stock offering of 4.3 million shares. you can see that stock getting hammered. our top story tonight as widespread protests erupt around the world, the united nations general assembly meeting in new york city in its second day. a hot button issue taking center stage. terrorism and how president obama is handling those threats. earlier he addressed the u.n. about the iranian government pursuit of nuclear arms. take a listen to what the president had to say. >> iranian government continues to prop up a dictator in damascus and support terrorist groups abroad. time and again it failed to take the opportunity to demonstrate its nuclear program is peaceful and meet the obligations to the united nations. america wants to resolve the issue through diplomacy. we believe there is time and
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space to do so. melissa: does this help the president persuade the world that he is tough on terror? let's talk with someone who definitely is, new york city mayor rudy giuliani. what do you think of that? >> i thought president obama pursue basically failed policy from the day he got into office. he was telling us that four years ago we were going to pursue diplomacy. in that four years iran enriched-uranium three times more than when president obama came into office. they're on the verge of becoming a nuclear power. the president pointed out they're the biggest sponsor of terrorism in the world. what happens when the biggest sponsor of terrorism in the world has nuclear materials to give to terrorists? that is disaster for the entire world. melissa: he says i'm tough on terror. i got bin laden. >> yeah. well, that's about it. you see how tough he is on terror. shouldn't dissuade the people in egypt from the protests they engage in. didn't stop people in libya for killing an american ambassador, the first one killed since jimmy carter. melissa: yeah. >> the president described
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on "60 minutes" as just a bump in the road. what the heck's that all about? just a bump in the road? an ambassador killed. another diplomat killed. two navy seals killed. dozens of people in syria killed. demonstrations all over the world. if he considers that a bump in the road we're in serious trouble. melissa: we have a sound bite where he addressed that in his speech while at the u.n. let me play that and get your reaction on the other side. >> i know there is some who ask, why don't we ban such a video? the answer is enshrined in our laws. our constitution protects the right to practice free speech. here in the united states, countless publications provoke offense. like me, the majority of americans are christian and yet we do not plan blasphemy against our most sacred beliefs. >> watched that and was ripping my hair out. do we really think that was about the movie. here he is legitimatizing that point of view saying all this had to do with the movie.
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first of all do you believe that the attacks on the ambassador were -- >> president obama were a law professor he would describe that as a red herring that is totally irrelevant concern that takes the obama administration kind of off the hook for how they missed the ba on this. this was a planned attack. melissa: right. >> he had u.n. ambassador on a week and a half ago saying this was spontaneous attack that is ridiculous statement. these were grenades that were propelled in a massive way. these were massive arms. people don't bring these things to, to spontaneous demonstrations. now all this evidence is coming out that the ambassador himself had, had a diary in which he was worried about exactly this kind of attack a week before. so why does he put the emphasis on this video? puts emphasis on the video because people are not asking questions because he had compliant media. had he not taken eye off the
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ball when he captured bin laden, when he theoretically from his point of view drove al qaeda back and they convinced themselves was much bigger than the case. president gave a victory lap. gave material to hollywood to make himself a superhero. i believe they were not paying attention to islamic extremism terrorism. they were looking to asia. we pulled out of iraq. we pulled out of afghanistan. or we have a date to pull out of afghanistan. on meanwhile things like they're worse than they have been in a very long time in the middle east. melissa: what is the danger to the americans around the world if we have a president standing in front. u.n., saying talking about this movie and essentially blaming it on the movie when most people with information believe the movie is like you said a red herring is and is not the cause of what happened? >> i would have more of a tendency to blame it on september 11. melissa: right. >> i don't believe in coincidences. too many years of investigating crime gets me it point where i don't believe in coincidences. i don't believe this was about the movie. i believe this is about doing a terrorist act on set
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of 11, slaughtering an american ambassador. killing american diplomat, killing two seals. creating havoc in 20 countries around the world. it is not just this video. for us to talk about the video gives us the impression we don't have a good sense what is going on there they were caught flat-footed. that ambassador should have had a lot more security than he had. the embassy should have had a lot more security than they had. it indicates to me they were kind of moving onto the next subject and not paying enough attention to islamist extremist terrorism which would fit for a president who doesn't want to say the words islamic extremist terrorism. doesn't say the expression war on terror. he will use the expression war on woman but not war on terror. he will not meet net yaw hue. -- netanyahu. will go on "the view." he didn't want to get pinned down where he will act militariliry little. i will never heard him use
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the word i will take military action if i get to the point of having to stop you. and i will take massive military action. those are the words we have to hear from the president. melissa: i have to ask you one more question before you go. we are hear here in new york. we're hosting the u.n.. happens every year at tremendous cost. >> oh i remember. i was the mayor for eight years of this. melissa: what do we get out of it? is it worth it from your perspective? >> we lose a lot of money. federal government only rei am bursts or used to you have to chick with mayor bloomberg. reimburses 4 to 5 million out of the 20 million it costs the city. we get out of the being international city, capitol of the world. we get a great deal out of it. this is not for free. it costs us a lot of money. melissa: thank you for coming on. i appreciate your time i will follow your cars home. do you mind hanging around? do you know shortcuts? >> i sure do. melissa: thanks so much. while the world is focusing on the u.n., don't forget europe is still out there. take a look at this video.
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spain's capital city madrid overtaken by protesters today. thousands of people marching to parliament calling for fresh elections over the government's handling of the economic crisis. so how big a role does this political push back have in the european financial crisis? for insight i'm joined by a professor at the university of chicago. and professor, i thought we solved this problem already? what is going on? >> i left it to you, melissa. i'm really shocked it continued. melissa: but, on a very serious note, i mean we have sort of shored up the financial piece of this, a bit, right? but it looks like everything has blown up again. break down for me what is going on. >> there's a short-term liquidity crisis, meaning that the banks didn't have enough machine any, that sort of thing, that they were in danger. one of the really extraordinary things that mario draghi, the head of the european central bank, did this summer was really moved together with the leadership of the european
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union, led by, angela merkel, to shore up those short-term problems but over the medium term and the longer term the lenders, which would be germany and the scandinavians, have to adjust, and they adjust by lending more money and the weaker countries have to adjust by ratcheting down in effect their wages and expenditures, and when you do that, when you tell people that they're not competitive in greece or spain or portugal, they push back, and when you tell them that their, their, retirement fund that they're expecting may have to be a little less, they push back. melissa: a problem we have here as well. yeah. i mean we're having that problem as well. so when i look at this video of what is going on in spain, should i be worried that the e.u. is falling apart again after we thought we shored this up? it looks, i mean we're
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looking at it right now, should i be nervous about this or in your mind is it somewhat expected? >> maybe the way to think about it is, if there was a leak in the dike, somebody put their thumb in it this summer but that doesn't mean that the dike itself is stable. so the short-term problem was involved. that was a liquidity and banking problem. that has not been solved even for the medium term. but bigger problem is what you would call structural adjustment. will the workers be able to take these austerity measures? will governments be able to do it. and will the lenders be willing to lend the money? you're seeing splits within germany including in the ruling party, merkel's own party, about whether they should pour what they consider good money after bad. and yet, if this whole thing blows up, the european project itself is in danger. melissa: professor, thanks so much for coming on. you always break it down for
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us. we really appreciate your time. >> it's my pleasure. melissa: gas prices finally begin to slip but easing the pain at the pump may prove short-lived. we'll explain that coming up next. plus this year's brutal drought take as really bizarre turn. animal feed has become so expensive some farmers are giving their cattle candy, instead like, gummy worms. one of those farmers is going to join us. more "money" and more gummy worms coming up. [ owner ] i need to expand to meet the needs of my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running.
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♪ . melissa: we've been telling you about rising gas prices for weeks on end and you've been likely feeling the pain at the pumpp but now the energy agency says after three months gas prices are starting to fall. to find out why and if the low prices are here to stay, patrick dehaan, my gas buddy from gasbuddy.com. thanks for joining us. >> feels like the chair is little cooler since the last time. melissa: yes, absolutely.
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gas prices going town. i know a lot has to do with the winner blend. for those that don't know that is environmental thing it is cheaper to make gas in the winter because of the way it is blended basically. are there other factors at work helping us out? >> i think there is a big factor. about a week and a half ago the energy information report that highlights weekly changes in the amount of gasoline and oil produced finally showed a very good report. in fact a surprising report to many. crude oil inventories had increased eight and a half million barrels in just one week's time. we saw overall total inventories of gasoline and crude oil jump a significant amount. i think that is what is leading to the selloff in oil and gasoline. melissa: yeah. and in fact we saw oil fall about 7%. gasoline dropped about 5% as i think you said in the futures market. do you think this is going to stick around though because i watch all of the sabre-rattling going on acrosstown and at the u.n. and i don't know? what do you think?
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>> well, there's a lot of asterisks behind how long this will stick around, a month, a year, not long enough. i'm sure many motorists will agree with. i think we'll see this in the cooler months. this situation tends to play out. i was looking past year's data in the run-up to the election of the prices can move up. they can move down. this year prices may be moderating. they have been highest this year. they are the highest they have ever been this late in the season. we'll see some relief. not going to be as much as folks hope. national average could drop into the mid $3 range between thanksgiving and christmas. melissa: bottom line, since the last presidential election they're up better than 100%. they are up in a lot of swing state areas. so no matter what little relief we're seeing down it will not be down substantially in the time left before the election. >> they might not come down quite in time but the movement will be lower. you may see some people wondering or some stories, why are gas prices going
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down so close to the election trying to make a story out of it when this is just a historical thing. prices always tend to moderate once we get out of the peak demand and that is summer time. this is normal. prices normally drop after you get all the hurricanes out of the way in the summer driving season i say what we're seeing at pump with falling prices is rather normal. melissa: bottom line, if the economy starts to pick up oil is going to ignite and that will translate into gas price, right? >> not only that if the economy hits the accelerator we'll see prices heating up. melissa: yeah. >> we'll have to watch the middle east. that could put pressure on things real well. melissa: if i want the cheapest prices i go to gasbuddy.com. always fun to see gas station in the area are charging. it is fantastic. thanks for coming on. >> you bet, melissa. melissa: this summer's drought have driven feed prices up to record levels so some cattle farmers are taking desperate measures to feed their herds.
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sweet treats, ice cream sprinkles, they're being added to cattle feed to offset the price of corn based feed. how much are they saving farmers? i'm joined by a dairy farmer who says he is saving big bucks by supplementing his cattle feed with ice cream sprinkles. this is sort of amazing to me. i have to get some very basic details. so you're putting jimmies into the feed? >> jimmies? melissa: sprinkles, right? >> well, i hadn't ever heard to them referred to as jimmies before. we've actually, i understand that this is sort of a new concept for many people to think about, feeding candy. melissa: yeah. >> to cattle but actually we've been doing it for a number of years. it is not an unusual practice for dairy farmers or even beef cattle to feed, farmers to feed, oh anything from sweet rolls to doughnuts. we've been feeding cereal, ice cream sprinkles this year as well as anything
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with sugar in it. it was really important for us this year because of the high prices of corn that was driven by the drought, it really helped us keep some of our feed costs down this summer. melissa: you're saying sweets are sort of a corn substitute in feed. this is normal. we're sort of idiots for getting excited about it, but still, i mean i don't live on a farm. so i didn't know that. you were sweet enough not to call me an idiot. you say this is pretty normal practice. instead of corn, how much money do you save and what does it mean for the health of the animal? >> well, actually, the cost this year for corn at our farm was about $3155 per ton this summer. that is a record high price -- $315. that is price i was having to pay. i bought ice sprinkles $178 a ton. until this became a national story. i talked to much. i missed bid on last load. i think it went 250. this has not been really great for my farm.
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that was quite a significant cost savings. we can't replace all of corn with these sawing dpar products -- sugar products but we can replace part of the corn for that. melissa: is it less healthy for the animal or people eating beef or having milk? if i feed my children sugar instead of corn there is a big difference. does it make a difference for the animal for the milk? >> not at all especially the dairy cow is this wonderful creation, creature that actually has four stomachs. the main stomachs has permanent mentation fat and so we have professional nutritionists actually construct this specific diet to feed the microbes in the rumen. whether ice cream sprinkles or cranberries or orange peels or sweet rolls or corn or hey, we can construct this diet so it just feeds the microbes. a much different digestive
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system than the human stomach. melissa: yeah. >> we're actually just feeding the microbes. melissa: are you passing the savings along to consumers to your customers? >> well i wish we could but unfortunately this year the drought has driven our cost of production up so high because of feed, corn, soybean prices that we're actually attempting to get back to a break even point. melissa: okay. >> this summer for dairy farmers, and it is very similar for hog recall at thatters as well. it has been worse from a financial position looking at dairy profitability ratios, this is record bad year for dairy farmers. that is saying quite a bit considering 2009 and 10 was back. melissa: mike, thanks for coming on. very interesting stuff. >> you're welcome. melissa: it is the quarter billion dollar call. last night's botched touchdown ruling between green bay and seattle turns vegas on its head. a firestorm of fury sweeps the league. will the nfl end the replacement ref fiasco
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before the reputation gets permanently torched. details coming up next. do you ever have too much money? ♪
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♪ . melissa: it is the call heard round the world. replacement refs officiating the "monday night football" game between the green bay packers and seattle seahawks last night making a very controversial call, costing green bay the win and sports gamblers even more. hear is the replay. estimates of upwards $250 million in bets shifted as a result of the game. fans are outraged but could this actually be good pr for the nfl and end the lockout and get regular refs back on field? joining us fox business's own dennis kneale and
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sportsillustrated.com and anchoring maggie gray. thanks for both you guys being here. all the attention, all the hysteria. this has been the talk everywhere today. what do you think? does it end the lockout? people are so crazed today. >> i don't know if it will end it but it definitely got both sides to the bargaining table. they have been bargaining, commissioner roger goodell and his lawyers and the nfl referees association and four straight days they are bargaining. possibly the intensity could pick up after what we saw monday night. nfl seems entrenched in the position. they know fans will keep on watching and they will not lose any viewers and money despite having replacement refs. >> maggie who follows this closely knows what she is talking about. you have me, i'm not biased. this strike, or lockout of the referees gets settled in one week. this is pr debacle, not a pr boost for the nfl. they look stupid here.
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they look selfish. you know what? the ron berkle, supermarket billionaire told me anytime you have lockout or labor dispute it is fault of management. labor is the child and management is the parent. if they let them walk out it is management's fault. what they're fighting over here is entire economy as we go to pensions to 401(k)s. referees are selfish as well. a pox on both houses. >> especially when people look at the nfl and they see when the nfl players hat had their lockout the nfl bringing in $9 billion but up in members look really big. the nfl is very smart. they're not doing any negotiations for the short term. know that doesn't mean anything for their fans. they're doing it for the long term. they're trying to get power back from the referees. they want to make sure the future is way they have it. melissa: do they have competition? that is really good point, people will watch football no matter what.
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unless they watch the lingerie league, maybe they already are, there are not a lot of alternatives. ratings are down or up? >> the ratings have been huge. if anything now you tune in because it will be a car wreck. nfl personally, they work 16, 17 weeks a year. get paid $150,000 plus benefit. nfl is raising by 190 k by 2016. i think they're a bunch of whiners. melissa: i thought so too but when you watch last night they have value. >> for one-third. year. rest of the time they take off. so many people would love to do the job. melissa: that was a terrible call. even the two refs on field signaling totally different things. it cost a lot of people a lot of money. estimates were $250 million. because this destroyed the spread. completely reversed all bets on the game. >> maggie, did you see the sports book.com said they will refund to gamblers who bet on the packers. melissa: that is pr.
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>> couple times sports books have done things like that. that is definitely pr move as opposed to what the league is doing negotiating with the referees association. melissa: that is very smart. somebody took advantage of it. >> that is way to use it to your benefit. if you're the guy who intercepted, the packer who intercepted that ball should be in a financial management firm right now about the one that got away. melissa: what is your prediction how long this lasts and what the true financial cost over time is, if any? >> i know what our "sports illustrated" reporters are saying is that it could be as early as thursday and if that happens, then the referees would be able to suit up and be on the field for sunday, not thursday night game but for sunday and monday. as far as loss of money, i don't see the nfl ever losing money. if that they're gaining more and more. doesn't matter if you have refs making great calls, making bad calls. regular refs. melissa: this is your field of expertise. you know so much about advertising. advertisers, with the nfl are, do they feel like more people are watching because
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insanity? >> exactly. melissa: or do they feel like the nfl brand is being tarnish and and they want some of their ad dollars back? >> if you're advertiser, more eyeballs the better. controversy means more eyeballs that is great. if the nfl you're threatening your own brand here because of a spitting match over matter of few million dollars at a time you cost betters quarter of a billion dollars in single game. you wake up and get this thing settled. >> i think one thing about the integrity of the game you're seeing on the field the players and coaches really do not respect these replacement officials. they have taken to twitter. they have really called them out. melissa: that is great point. >> intimidating them. physically intimidating them. the refs are not calling certain bad hits on quarterbacks and out of bounds hits. it has been awful. >> they called a lot of penalties but sometimes not the right ones. that has been sort of what's been happening. i think when you see, when we talk about the integrity of the league and these games you really don't want to see players trying to intimidate the refs.
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you want to see coaches trying to intimidate the refs. melissa: we have to go. both of you, fantastic. thank you so much for coming on. great conversation. >> thanks. melissa: here is our question of the day. are you more or likely to tune in nfl games because of last night's debacle. facebook.com/melissafrancisfox or follow me on twitter at melissaafrancis. mass exodus from the golden state. a new study why millions of come californians looking for better lives elsewhere. europe slaps airlines with a carbon emission tax tacking it on to tickets. congress is trying to save the day but it could spark an owl ought trade war with europe. piles of money coming up. ♪ . [ mujahid ] there was a little bit of trepidation,
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not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪
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♪ . melissa: golden state is looking a little tarnished these days. a new report cites a number of reasons that people are leaving california and actually have been for years. things like high taxes, regulations, financial instability. have people moving to more business-friendly, less tax happy states like texas. joining me now is former press secretary for governor schwarzenegger and founding partner of the ginsberg mcclear group, aaron mcclear. glad to have you back on the show. >> thanks. melissa: the manhattan institute was talking about how for decades especially after world war ii from 1960 to 2010 the population of california increase creased by 137%. people were moving to california for the weather, promise, space industry or space on the ground.
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there were a lot of people coming out to california. since then we've seen. that was the stat we were showing. since 1990 the state has seen 3.4 million people do the exact opposite thing. and move away from the west coast. why do you think that is? >> well, we still have a lot of those reasons for people to come out here. it is the most gorgeous piece of real estate on the planet. absolutely beautiful out here. the weather is great. melissa: right. >> our ag system is wonderful. we have high-tech, biotech doing very well. there is a lot of positive things out here. melissa: but? >> the problem is the folks in charge are sew focused on environmental regulations which are a good idea because it is so beautiful out here we want to keep it that way but they go too far with those. the high taxes. melissa, get this. right now we have the highest budget in the history of the state and the governor has a $50 billion tax hike on the ballot. if that is not the definition of tax-and-spend i don't know what is. melissa: you look at where they're going and you see that more than 70% of those states net migration is going to texas.
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and they came from california. 70% of the people that moved into texas, came from california. it shows you that like you said, weather, warm weather is important to these folks. being outdoors. but at the same time, texas, i just got back from houston. it is a state that is very focused on, as a lot of people said freeing business up to do what they do best. and not holding people back. you are what you achieve is what i heard over and over again while i was there and seems like california lost a little bit of that. i'm a native calfornian. this breaks my heart. >> it is too bad. you know how it is out here. it is a great state and great people out here. but the leaders of this state continue to have highest taxes. whatever the measure is, we have among the highest taxes in country or sales or income or corporate. all those are about the highest. we also have a third of the welfare recipients. we're very generous with our social services. highest paid teachers. highest paid prison guards.
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you can make more in retirement as teacher here than most working teachers in the rest of the country. there are ways to fix it. it is not a lot of cause. we can't keep having highest budget ever and putting a $50 billion tax hike on the ballot. we have to fix the system. it is there to be fixed. it can be done. melissa: it can be but i'm not sure people in california want it enough to elect someone that would turn it around. i was recently in california. i went into a cvs. they gave me a paper bag because they outlawed plastic bags much i wasn't buying cigarettes. someone told me they didn't sell them at cvs. because there is pharmacy inside and there is law against that. there is law about everything. >> yeah. melissa: californians vote people into office that support these things because they like it and i don't think it will change. >> really the problem out here is political problem as much as anything. we don't have a opposition party. the republican party is very weak in california. majority party can do whatever they want without any fear of getting kicked
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out of office because there is no, no real opposition party to do that. it is a political problem as much as anything. but elected leaders of this state has have been focused spending more and more and cutting back and not doing anything to incentivize businesses to stay here and create jobs. melissa: aaron, depressing. >> we'll fix it for you. melissa: i can't wait to have you back on when you fix it. thanks for coming on. u.s. airlines blow a gasket over a new european carbon tax the government doesn't want the airlines to pay but if they don't it could turn into a $22 billion fine? we're going to explain that coming up next. at the end of the day it is all about money. ♪ .
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♪ . melissa: now "money" updates you on a story we've been following we brought awe little while back. congress hasn't taken lightly an attempt by europe to tax u.s. airlines for their carbon footprint. over the weekend the senate unanimously passed a bill against the plan, saying flights in and out of europe don't have to buy allowances for their carbon emissions.
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will this bill set the stage for a cross atlantic showdown? we have sean kennedy, vice president of global government affairs for airlines for america. thanks for joining me. we don't have a lot of time so i want to get right to it. does the u.s. government have the jurisdiction to stop the e.u. from doing this, from charging this tax? >> absolutely. there are international bodies in place through the united nation that is the united states could appeal to. it is really shocking what the e.u. is trying to do. they are trying to put a tax, basically on every passenger that flies into the e.u., for actions that are occurring in the united states. it's something that the united states could not do to europe because we signed a trade agreement we wouldn't and every other country of the world signed the same agreement. the e.u. did not sign it. so folks are hiding behind that. but the united states could absolutely put an end to this filing a lawsuit. melissa: in my mind it is total insanity. if you just fly through europe's airspace you get hit with this tax. i know the senate has passed
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a bill, i understand, to step in and stop this. it still has to go through the house and be signed by the president. what do you think? will it make it? >> the legislation, the house passed similar legislation, so has the senate. in an era where congress can't agree on anything it is very encouraging both parties agree this is the wrong approach. we think congress will be able to pass legislation after the elections in the so-called lame duck cycle, lame-duck session and send a bill to the president. but the president, the white house can act right now without the legislation. we want to give them a tool to make sure they do the right thing. >> what strikes me about this is the pure stupidity because you tax things you want to discourage. europe needs tourists more than anything else. their economy is hurting. the only thing that would help greece right now is if everybody showed up to tour the acropolis. so you don't want to tax everybody who might be coming to do just that. where am i going wrong with that? >> you're not. right now it is remarkable, airline tickets are the most
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heavily taxed consumer products out there. they pay 20% of every ticket is in the form of taxes. that is more than alcohol, tobacco and firearms which are things we're trying to, which are things that have sin taxes. so a definite loser for consumers. melissa: right. sean kennedy thanks so much for coming on. keep us updated on the european stupidity. >> thanks, melissa. melissa: visitors to the big apple take note, don't ever miss with a new yorker's taxi. details on the faux pas that caused this cab braille on a city street, coming up next. i kind of had this fight before myself but didn't get that violent. you can never have too much money or too many cabs. ♪ . 4g lte has the fastest speeds.
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over a cab in new york or in one of them tried to put the other in a headlock. that is coming up, yeah, there you go. he releases them from he lets them have the cab, but not before smacking him on the head, slammed the door. this is just another day in new york city. when somebody jumps in front of you down the block from acu trying to wait for a cab and they hiked down and hail a cab, a sort of want to go out and smack them. >> the downfall of american civilization. [talking over each other] >> those of you non-new yorkers, what you're watching on television is the exception and
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not the rule. >> oh, come on. we are not throwing punches. >> you are out of order. melissa: , i'm not throwing punches, but since i've had more children, i have had the chance to be more subdued or calm. we are only behaving this way because there is a five year old watching it. if the child is not here, we would be doing other things. >> it's a real interesting issue chivalry is not dead. new yorkers are good people. i'm tired of being tainted with this podcast. melissa: all right, we will move onto another topic. when your money disappears and
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things get eaten by the washing machine. a handheld detector helps you find each soft make, so you never have a mismatched pair. the company says that they all wear evenly over time and from $189, you can get 10 pairs. that is a lot for socks. >> it's basically $20 per pair of socks. that is with tax and everything. i'm more of a 5-dollar kind of sock die. it is by the same kind of socks. i think it's a cool technology. a great christmas present for people who have extra income and want to buy a great gift. melissa: can you watch them? >> that is the great technological advance. you have microchips that you can't mismatched them. but it is a possible chip -- that is a technological
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breakthrough. melissa: apparently there is an iphone app that judge the how the sox are faded. >> and $20 per pair, you better be wearing them for year. the deal okay, in italy, free ty are selling pre-peeled bananas and plastic packaging. they look kind of disgusting. >> is it too much work to pill your banana? how lazy can you be.
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>> i guess it lets you know if there is a problem inside the banana. we do anytime i've been to italy, they don't take credit cards. but yet they are going to kill my banana. >> they don't take credit cards that they sell you pre-peeled bananas. something wrong with that. he didn't accept, for everyone out there that says you need enough no matter where you live, it is called being ostrich fillet you can sleep anywhere on. you can put your head down and rest your head inside of it. it sold more than $575. >> that has to be the most uncool thing you could ever come up